What is MBA and Why is it Important?

In this guest article from the founder of MiM-essay, you will learn more about the Master of Business Administration(MBA) program and also find clear points why getting an MBA is something important.


What is an MBA?

The master’s in business administration is a globally recognized management degree program designed to equip students with potential business and management skills. MBA is a generalized program that encompasses mostly everything related to business.

This program is one of the most sought-after programs out there, with a very high return value. This program is curated as per the skills required and goals towards professionals out there who want to change their career path, especially if their inclination or future goal is to start or upscale their business.

Harvard Business School has been credited to be the founder of the MBA program that came into existence in 1908. Now, considered one of the most popular programs globally, there are currently more than 2500 MBA programs offered worldwide, emphasizing the English medium of teaching. 

There are three different types of MBA programs based on the duration of the program. The first one is the full-time MBA program, which generally takes 18 months to complete.

Second, in this category would be the EMBAs, which can take 20 months to complete. Lastly, we have the professional MBAs, which has a total curriculum duration of up to 26 months.

Furthermore, an MBA program’s curriculum consists of the core modules such as finance, accounting, economics, marketing, operations, and management. Besides offering a plethora of electives and specialized courses, you can choose to pursue a career in a more niche-specific area in business. 

The most noteworthy part of an MBA program is its opportunity to the professionals, especially those who might have crossed the standard age bracket for higher education in other fields.

Why is an MBA Important?

There are several reasons why an MBA degree is important and probably the best decision for someone looking for a career in the business world. Below are some of the most prominent reasons that back the well-talked importance of an MBA program:

Career transformation

One of the most common and primary reasons for an aspirant to pursue an MBA is to seek to change their career path or industry. Many students also sought to work in a managerial and administrative domain. 

Better pay package

Another major perk of doing an MBA is the countless opportunities you will receive to work at a much higher salary than graduate majors in other fields. 

To gain entrepreneurship skills

If you are one of those students who want to enter the world of entrepreneurship and build your own business, then an MBA degree is the best solution in this case. Many top B-schools in the world offer MBA along with a specialized track course in Entrepreneurship. 

Builds networking skills

The best part of an MBA program is the extensive range of networking opportunities you receive. Be it in the form of alumni meets or simply interacting with your class peers who are equally talented and enthusiastic about their career goals.

Most importantly, you get to interact with a very diverse group, which ultimately leads to your broadened perspective and opens many doors for you to explore in the near future. 

Certifies your credibility and branding

One of the biggest motivations and push behind doing an MBA is the credibility factor that it adds to your profile. Thus, automatically vouching for your certified expertise hence showcasing your skills at par for a corporate working environment.

Additionally, if you have studied your MBA program at a good university or school, the chances are that the brand associated with that school will help you move forward throughout your life.

Thus, these are crucial reasons that make it important for the graduates to opt for the MBA program and build a bright future ahead.  

Author Bio

Abhyank Srinet is a passionate digital entrepreneur who holds a Masters in Management degree from ESCP Europe. He started his first company while he was still studying at ESCP, and managed to scale it up by 400% in just 2 years. 

Being a B-School Alumni, he recognized the need for a one-stop solution for B-School to get in touch with schools and get their application queries resolved. This prompted him to create MiM-Essay, a one-of-a-kind portal with cutting edge profile evaluation and school selection algorithms, along with several avenues to stay informed about the latest B-School Updates.